Starz Holds On to Rights for Sony Movies

Starz STRZA +7.08% extended its agreement with Sony Corp.’s 6758.TO -10.14% film business by five years, giving the premium cable network exclusive pay-television rights to Sony Pictures Entertainment movie releases through 2021.

Class A shares were up 8% at $18 in midday trading.

The deal comes about two months after Starz was outbid by Netflix Inc. NFLX -1.76% for rights to Walt Disney Co. DIS +0.16% movies.

The new agreement with Sony provides movie content for all Starz platforms including its Starz and Encore channels as well as through on-demand and online streaming services.

Financial terms of the deal weren’t disclosed.

Starz was spun off by Liberty Media Corp. LMCA +0.78% in January as Liberty aimed to free up cash to pursue its effort to take over Sirius XM Radio Inc. SIRI +0.96%

The developments at Starz reflect broader shifts in the premium cable sector, long dominated by Time Warner Inc.’s TWX -1.09% HBO and CBS Corp.’s CBS -1.26% Showtime. While these channels originated as outlets for movies, the proliferation of movies on various outlets including on-demand services and cheap DVD rental services has reduced their value for premium movie channels.

About Wealth Femi

I am Wealth O. A, B.Sc (Chemistry), Delta State University, Nigeria, Diploma (Basic Marine certs), Regional Maritime University, Ghana. Married with kids. Marriage and Relationship Counselor, writer and entrepreneur.

Check Also

“Classless boss lady, still had guts to call Praise 5 seconds man” – Bobrisky drags Ka3na to filth

Popular crossdresser, Bobrisky drags reality star, Ka3na Jones to filth after claiming of making out …


  1. progressionstudios

    Hi, this is a comment.
    To delete a comment, just log in and view the post\’s comments. There you will have the option to edit or delete them.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: